SPX: Update

We had a massive breakdown today, it's likely to get a time at mode short signal to confirm on Monday, if we don't retest the blue rectangle above. If not short, you make take positions at the open. Risk 0.5-1% on this entry.
Target is just the support below, but it could retrace after hitting the box target, or after the time projection ends.
Either way, I expect a considerable decline, after seeing a rapid shift of sentiment, right after Yellen's remarks, from massive amounts of bears, to bears who gave up, which gave us the right ingredients for a lasting top.

Disclaimer: I'm/we're long VIX calls, with spreads and out of the money call options, and short SPX via derivatives and equity

Good luck!

Ivan Labrie.

Comment:
Shorted more against the downtrend mode resistance.

The stop here is tight, but should hold. If more conservative you could use 3x daily ATR, or go over the highest high.